The markets extended its gains during the midday with the Dow surging 117 points to 13,005 as the nation's economy grew 1.5% annual pace in the second quarter. Nasdaq surged 41 points to 2935. On the upside
Expedia (Nasdaq: EXPE) reported lower second quarter earnings but the results surpassed analyst expectations. A Seeking Alpha contributor expects OCZ (Nasdaq: OCZ) to report strong results in the second quarter as well as the full year. Barclays (NYSE: BCS) reported higher adjusted profit for the first half of the year. On the downside Starbucks (Nasdaq: SBUX) reported higher third quarter earnings and revenue but the results fell short of expectations and lowered its guidance for the current quarter. Acme Packet (Nasdaq: APKT) fell to a loss for the second quarter and cut its full year forecast below analyst expectations. Coinstar (Nasdaq: CSTR) reported higher second quarter earnings but revenue missed estimates and the company forecast full year earnings below expectations. In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 1 on the NYSE and by more than 5 to 2 Nasdaq. The Russell 2000 which tracks small cap stocks soared 12 points to 789.
